Cresset Asset Management LLC Sells 2,509 Shares of InterDigital, Inc. $IDCC

Key Points

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Cresset Asset Management LLC cut its holdings in shares of InterDigital, Inc. (NASDAQ:IDCC - Free Report) by 11.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 20,087 shares of the Wireless communications provider's stock after selling 2,509 shares during the period. Cresset Asset Management LLC owned approximately 0.08% of InterDigital worth $4,153,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Fuller & Thaler Asset Management Inc. lifted its holdings in InterDigital by 3.6% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 612,851 shares of the Wireless communications provider's stock worth $118,722,000 after acquiring an additional 21,319 shares in the last quarter. Reinhart Partners LLC. lifted its holdings in InterDigital by 13.9% during the first quarter. Reinhart Partners LLC. now owns 410,442 shares of the Wireless communications provider's stock worth $84,859,000 after acquiring an additional 50,204 shares in the last quarter. Invesco Ltd. lifted its holdings in InterDigital by 8.5% during the first quarter. Invesco Ltd. now owns 355,704 shares of the Wireless communications provider's stock worth $73,542,000 after acquiring an additional 27,853 shares in the last quarter. Congress Asset Management Co. lifted its holdings in InterDigital by 5.0% during the first quarter. Congress Asset Management Co. now owns 339,101 shares of the Wireless communications provider's stock worth $70,109,000 after acquiring an additional 16,040 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in InterDigital by 31,724.6% during the first quarter. GAMMA Investing LLC now owns 299,788 shares of the Wireless communications provider's stock worth $619,810,000 after acquiring an additional 298,846 shares in the last quarter. 99.83% of the stock is currently owned by institutional investors.

Insider Transactions at InterDigital

In other InterDigital news, Director Derek K. Aberle sold 692 shares of InterDigital stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $226.41, for a total value of $156,675.72. Following the sale, the director owned 6,192 shares of the company's stock, valued at $1,401,930.72. This trade represents a 10.05% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CTO Rajesh Pankaj sold 1,000 shares of InterDigital stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $261.03, for a total value of $261,030.00. Following the completion of the sale, the chief technology officer directly owned 67,122 shares in the company, valued at approximately $17,520,855.66. This represents a 1.47% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,062 shares of company stock worth $1,181,883. 2.30% of the stock is currently owned by company insiders.

InterDigital Trading Up 3.0%

IDCC stock traded up $7.73 during midday trading on Friday, hitting $266.27. 244,907 shares of the company's stock were exchanged, compared to its average volume of 304,067. The stock's fifty day moving average price is $240.03 and its 200-day moving average price is $220.62. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.96 and a current ratio of 1.96. The company has a market cap of $6.87 billion, a PE ratio of 18.98, a price-to-earnings-growth ratio of 1.62 and a beta of 1.37. InterDigital, Inc. has a one year low of $129.76 and a one year high of $277.95.

InterDigital (NASDAQ:IDCC - Get Free Report) last posted its earnings results on Thursday, July 31st. The Wireless communications provider reported $6.52 earnings per share for the quarter, topping the consensus estimate of $2.77 by $3.75. The firm had revenue of $300.60 million for the quarter, compared to analyst estimates of $167.93 million. InterDigital had a return on equity of 53.44% and a net margin of 51.92%.The company's revenue for the quarter was up 34.5% on a year-over-year basis. During the same period in the previous year, the company posted $4.57 earnings per share. InterDigital has set its FY 2025 guidance at 14.170-14.770 EPS. Q3 2025 guidance at 1.520-1.720 EPS. Research analysts predict that InterDigital, Inc. will post 9.21 earnings per share for the current fiscal year.

InterDigital Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 23rd. Shareholders of record on Wednesday, July 9th were paid a $0.60 dividend. The ex-dividend date of this dividend was Wednesday, July 9th. This represents a $2.40 annualized dividend and a dividend yield of 0.9%. InterDigital's dividend payout ratio (DPR) is currently 17.11%.

About InterDigital

InterDigital, Inc operates as a global research and development company with focus primarily on wireless, visual, artificial intelligence (AI), and related technologies. The company engages in the design and development of technologies that enable connected in a range of communications and entertainment products and services, which are licensed to companies providing such products and services, including makers of wireless communications, consumer electronics, IoT devices, and cars and other motor vehicles, as well as providers of cloud-based services, such as video streaming.